In super simplified (edit: and inaccurate) terms, a bunch of WAVES have been specially flagged as WhopperCoins. Any client that receives these specially marked WAVES know that they are WhopperCoins. Even if you could mine WAVES with your GPU (they're PoS not PoW) you wouldn't generate WhopperCoins, because your WAVES won't be specially marked.
This is the basis for how colored coins work [1] and a lot of other token platforms work on similar principles.
Burger King initially controls all 1 billion of the tokens, and is distributing them as part of a rewards program. The only way to get them is to buy food at BK, or to buy it from someone who has some.
[1] https://en.bitcoin.it/wiki/Colored_Coins
Edit: the user below me says that WAVES doesn't work like colored coins, but you still aren't able to mine them. I'd delete my post but I made a slick pun and I can't bear to take it down.